Prominent cryptocurrency exchange OKX will list HMSTR, the token blacked by the viral telegram game Hamster Kombat.
According to an announcement on August 30, the Seychelles-based cryptocurrency trading platform will allow the spot trading of HMSTR starting September 26.
The listing is set to be one of the most notable token listings in 2024, as players of the popular clicker game have been waiting to reap the benefits of committing their time to tapping their screens to mine the token.
Before trading begins, the exchange plans to organise marketing campaigns targeting the Hamster Kombat community, which boasts over 300 million players, 12.7 million followers on X, and over 35.4 million subscribers on YouTube.
The exchange has also introduced a countdown timer on its website to further build anticipation.
The exact timing of the listing and the trading pairs that will be available are yet to be disclosed. OKX vowed to reveal these details in subsequent announcements.
The exchange previously listed HMSTR for pre-market futures trading, allowing traders to speculate on the token’s price before its official listing.
Users could gain early exposure to new assets using USDT-margined contracts, usually settled before the token becomes available for spot trading.
OKX plans to settle or “deliver” these pre-market futures for HMSTR on September 25, 2024, with a 1% settlement fee.
While futures pre-market trading for HMSTR was exclusively available on OKX, several other exchanges, including Bybit, KuCoin, and Bitget, listed the token for pre-market trading through their over-the-counter (OTC) platforms.
In contrast to futures, OTC trading on these platforms involves direct negotiations between buyers and sellers to set prices before the token’s official launch.
The announcement from OKX followed the game developers setting the same date (September 26) for HMSTR’s airdrop and token generation event.
Conformation for the airdrop came after multiple delays, with the team previously citing on-chain complexities.
Nevertheless, the airdrop has been marketed as one of the “largest airdrop in crypto history.”
As per its revamped whitepaper, the game will allocate 60% of HMSTR’s total supply to players.
The rest of the tokens will be used for partnerships, grants, and boosting market liquidity. However, the developers haven’t revealed the token distribution criteria.
Hamster Kombat’s journey so far
Launched in March 2024 by a team of anonymous developers, the game quickly gained traction, attracting millions of users and leveraging its simplicity and earning potential.
The game’s popularity propelled its YouTube channel to break the record for the fastest-growing YouTube channel at the time.
The game’s idea is simple: players tap on the screen to mine the in-game currency, which can then be swapped for the game’s upcoming HMSTR token.
The project has been lauded by Telegram CEO Pavel Durov, who saw it becoming one of the largest tap-to-earn platforms.
Despite its popularity, there have been concerns about the long-term sustainability of the game and its token once trading begins.
The fear stems from the performance of Notcoin, which saw its price drop as holders started liquidating their stash.
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